Kuala Lumpur, Malaysia – President Ferdinand “Bongbong” Marcos Jr. has directed the Department of Trade and Industry (DTI) to implement a price freeze on basic and prime commodities until the end of the year, aiming to provide price stability for Filipino consumers during the holiday season.
The announcement was made by Palace Press Officer Undersecretary Atty. Claire Castro on the sidelines of the 47th ASEAN Summit in Kuala Lumpur. “In line with the directive of President Ferdinand Marcos Jr. to ensure that the prices of goods will not move before the holiday season, the DTI announced that there will be no price increase in the basic and prime commodities in the country until the end of the year,” Castro stated.
Before departing for Kuala Lumpur, Marcos instructed the DTI to strictly monitor and enforce the maximum suggested retail prices (SRP) for imported rice and other essential food items. He also directed the DTI to collaborate with manufacturers to maintain current price levels and prevent unjustified price increases.
DTI Secretary Ma. Cristina Aldeguer-Roque assured that all industry stakeholders are working with the government to stabilize market prices during the holiday period. However, the long-term impact of the price freeze on businesses, particularly smaller retailers and manufacturers facing rising operational costs, remains to be seen. While consumers may benefit from stable prices in the short term, concerns are emerging about potential supply chain disruptions or reduced product availability if businesses struggle to maintain profitability under the imposed price controls.
metrosundaily
